CAMERON KNOLL UNIT OWNERS’ ASSOCIATION, INC.

POLICY RESOLUTION AMENDMENT

Adopted: October 1985

Amended: December 19, 2011

Effective Date: March 1, 2012

NOW, THEREFORE, pursuant to Section 13.1-212.1 of the Virginia Non stock Corporation Act and in accordance with the Bylaws of the Cameron Knoll Owners’ Association are hereby amended as follows:

Article IV is hereby amended by adding the following Sections 4.5 after Section 4.4 so that those sections read as follows:

Section 4.5 Late Fees and Administrative Charges The Board shall have the authority to assess late fees on any account which is not paid within ten (10) days after it is due in such amounts as shall be determined by the Board by resolution, and, if not so determined, late fees shall be in the amount of Ten Dollars ($10.00) per month. If an installment remains delinquent twenty five (25) days after it is due, the Board shall have the additional authority to assess an administrative charge of fifteen Dollars ($15.00) to cover the costs of handling, or such amount as the Board shall determine by Resolution, and to refer the delinquent account to counsel for legal action. A return check fee of $35.00 will be charged for checks that are returned from banking institutions for non-sufficient funds. Checks that are returned on two (2) different occasions within a twelve (12) month period will not be accepted for future payments. Owners can reinstate paying assessments by check after twelve (12) consecutive payments by submitting their request to the Board of Directors in writing.

Section 4.6 Acceleration . If an Owner shall be in default of any installment of an assessment, but not limited to the monthly installments based on the annual budget for more than sixty (60) days, the Board of Directors will turn delinquent accounts over to legal council for collections and may demand payment and accelerate the remaining installments of the annual assessment coming due with that fiscal year and the remaining installments shall constitute a lien on the lot. A fifty dollar ($50.00) non-refundable administrative fee will be charged to any delinquent account that is turned over to legal council for collections, in addition to all attorney and legal fees that may incurred during the collection process.

Duly adopted on January 23, 2012

Motion by: Julie Podolsky Seconded by: John O’Dowd

VOTE: Yes No Abstain Absent

Julie Podolsky President ( x ) ( ) ( ) ( )

John O’Dowd Director ( x ) ( ) ( ) ( )

Mark Dluger Director ( ) ( ) ( ) (x )

Bradon Kasen Director ( x ) ( ) ( ) ( )

Heather Winkelmann Director ( x ) ( ) ( ) ( )

Attest: Elaine Curry/Property Manager